Home » Business » Inflation in the US grew more than expected – 2024-03-16 08:45:02

Inflation in the US grew more than expected – 2024-03-16 08:45:02

In this image from Wednesday, December 21, 2016, the New York Stock Exchange is seen. US stocks closed on Thursday, August 17 with the biggest drop on Wall Street in the last three months. (AP Photo/Mark Lennihan, File)

Wall Street opened this Tuesday in green and the Dow Jones Industrialsits main indicator, rose 0.24%, as investors analyze the latest economic data on inflation.

Ten minutes after the trading floor opened, the Dow Jones stood at 39,327 points, and the selective S&P 500 rose 0.42%, up to 5,207 points.

The composite index of the Nasdaq market, where the main technology companies are listed, rose 0.61%, up to 18,327 units.

He Consumer Price Index (CPI) of USA It rose 3.2% in February in an interannual rate, while compared to the previous month it increased 0.4%, above what analysts expected and well above the 2% objective set by the Federal Reserve.

Most of the increase, 60%, was attributed to rising housing and gasoline prices, with the energy price index rising 2.3% from January, while food prices remained almost unchanged, according to the Bureau of Labor Statistics (BLS).

The underlying price index, excluding food and gasoline, rose 0.4% in February compared to January, the same pace as the previous month.

Investors now focus their attention on the upcoming monetary policy meeting of the Federal Reservewhich will take place at the end of this month.

Photograph provided today by the United States Federal Reserve showing its headquarters, the Marriner S. Eccles building in Washington (USA). After a year of falling month after month, US inflation has accumulated two months of increases, a situation that goes against the objectives set by the Federal Reserve (Fed) of controlling prices by raising interest rates. EFE/US Federal Reserve /Britt Leckman /

By sector, the losses dominated, led by public services (-0.56%) and energy (-0.55%), while the largest gains were for the technology sector (0.62%) and the communications (0.33%).

Among the 30 stocks in the Dow Jones, the gains of 3M (6,61 %) y Microsoft (1.11%), and the losses of Boeing (-3,53 %) y Apple (-0,83 %). EFE (I)

#Inflation #grew #expected

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